AGCO Purchases Brazilian Beet Harvester Manufacturer

AGCO Corp., Duluth, GA, has agreed to acquire a controlling interest in a Brazilian equipment manufacturer, continuing the company’s overseas shopping spree, in order to diversify its product offerings and manufacturing operations.

The company is spending $31 million to purchase 60% of Santal Equipamentos, which is headquartered in the city of Ribeirão Preto.

The purpose of the acquisition, is to add sugar-cane harvesting equipment to AGCO’s line of tractors and combines, giving the company a foothold in its outreach to Brazil’s many sugar-cane farmers.

Martin Richenhagen, AGCO’s chairman, president and CEO, called Santal an “excellent fit” for AGCO’s Brazilian aspirations and said its “products are recognized for their strength, quality and fuel efficiency by its customers, including the largest sugar producers in Brazil.”